Galleon Player Anil Kumar Pleads Guilty

Another player in the Galleon Group insider trading scandal has pleaded guilty.

Anil Kumar, a former director at McKinsey & Co. said to have leaked information to Raj Rajaratnam, agreed to cooperate with prosecutors in the ongoing case.

NYT DealBook: Mr. Kumar pleaded guilty to one count of securities fraud and one count of conspiracy to commit securities fraud in Federal District Court in Manhattan. Choking up and tearing, he said he “apologizes to his colleagues for the shame they have suffered.” Mr. Kumar said that from 2004 through 2009 he was paid by Rajaratnam to provide him with inside information.

Kumar is said to have leaked confidential information to Rajaratnam about a pending deal involving AMD and two companies in Abu Dhabi (McKinsey was consulting AMD at the time).